Jay Z's 4th Wedding Anniversary Jewelry Shop Stop

Picking up some diamonds for his wife, Jay-Z was spotted leaving Jacob and Co. in New York City to help celebrate his 4th wedding anniversary with Beyonce Knowles on Wednesday (April 4).

Walking out with the owner, the "Otis" rapper offered Jacob The Jeweler a manly hug as he headed towards his tinted SUV, also taking a moment to shake hands with a few construction workers nearby.

Also of note, Jay may have been grabbing up a new engagement ring - as reports have surfaced that the famous couple plan to renew their vows to celebrate four years of matrimony.

Of the romantic gesture, an insider told Star magazine that the 42-year old "came up with idea," adding, "Jay told Beyoncé earlier this year that he wanted to marry her all over again."

Just like their first wedding, the second trip down the aisle is expected to be in the comfort of their home in Scarsdale, New York with just a few close friends including Gwyneth Paltrow, Kanye West and Oprah Winfrey.

The new parents of three-month-old Blue Ivy supposedly already have everything planned out, as a source reveals, "They want the ceremony to be simple but elegant. They're having Nobu cater it, and Jay put together a special presentation showing him and Bee through the years."